Gigasun requests extension of the SOLT4 bond

We have now found a solution that means we have initiated a sales process of solar power plants in China. This will enable us to transfer liquidity to Sweden for the repayment of SOLT4. The first payments from the sales process are expected to be received around year-end, which unfortunately means that the repayment of the SOLT4 bond, maturing on November 8, 2025, will not be possible to meet on time. This is the same situation we previously had with SOLT2 and SOLT5, which were repaid with financing from China, but which also had to be extended beforehand.

To ensure the repayment of SOLT4, we consider it to be in the interest of both bondholders and the company to request an extension of the SOLT4 bond’s maturity by up to one year, with a latest maturity date of November 8, 2026. The next step will be that the bondholders are informed and given the opportunity to vote on the proposed extension of the relevant bond agreements through a written procedure.

We have previously repaid four bonds in a total amount of SEK 933 million and, in addition, have always paid interest to the company’s bondholders on time. This demonstrates our ability and willingness to meet our financial commitments and our dedication to our bondholders.

Max Metelius, CEO of Gigasun, comments:
“Gigasun operates in a very strong renewable energy market in China and has a well-functioning and proven business model with strong cash flows. The initiated sales process of selected solar power plants is carried out in order to begin repayment of SOLT4. However, the timing is difficult to predict, which is the reason why we are requesting an extension of SOLT4.”
Information regarding the extension of the SOLT4 bond can be found in the attached document.